Overview A sole trader operates in his personal capacity. This carries the risk of unlimited personal liability for the debts and legal obligation of the business. If a business trades as a sole trader in the UK, no registration with Companies House is necessary. If a business name is used, it may be necessary to […]
Category: Business Arrangements [UK]
LLP Administration and Agreements
Post-formation Administration The Registrar of LLP’s is based in Companies House. Notice must be given to the Registrar, equivalent to the Companies Office, of any change of name or registered office. All the requisite stationery and names outside the business must be changed. Notice of change of membership of an LLP must be given to […]
Limited Liability Partnerships
Nature of LLP A limited liability partnership (usually called an “LLP”) is formed under the Limited Liability Partnership Act in England and Wales. It has much in common with a company. It is deemed to be a separate legal entity from its members. This has the important consequence that the members are not liable for […]
Partnership Agreements
Overview A partnership is a contract between persons to carry on a business in common. The terms of the agreement decide the legal rights and obligations of the partners. The Partnership Act 1890 (which is the same Act in force in Ireland), determines what rules applies on particular matters, if nothing is stated to the […]
Partnerships
Types of partnership There are a number of types of partnerships under English law. Two types are identical to the types of partnerships found in Ireland. The third type, a limited liability partnership (known as an LLP), is unknown in Ireland and is a hybrid of the traditional type of partnership and a company. See […]
Agency
Overview The use of self-employed agents abroad, is a long established method of marketing and selling. The agent is usually the exporter’s representative in another country. He is not an employee. He is an independent contactor who works on his own account. The agent concludes contracts for a supply of goods and services on behalf […]
Commercial Agents Regulation
The EU Regulations EU wide Regulations govern the legal relations between self employed “commercial agents” and their “principals”. These regulations contain important provisions, many of which cannot be avoided or overridden by the terms of the agreement between the parties. A “principal”, under the Regulations, is a company or individual who appoints the agent. A […]
Distribution Arrangements
Overview A distributorship arrangement involves the sale of products by the distributor in a third country, on his own account. The distributor contracts both with his supplier and with his customer. He becomes owner of the products concerned. He is not a representative of the principal. In contrast, the agent represents the person appointing it […]
Franchises
Overview Franchising offers the opportunity to secure distribution for products and services faster than would otherwise be the case. The franchisor may be able to increase purchasing power and reduce overheads. The disadvantage of franchising is loss of control. Although a franchise agreement may impose restrictions, the franchisees are independent third parties who maximise profits […]
Joint Ventures
Overview Joint ventures are a means by which companies and businesses undertake activities and projects jointly. They may be undertaken when a project is beyond the capacity of an individual company. They are particularly important in the cross border context and may provide opportunities for a company to enter into new markets and industries. The […]
